The Spanish biopharmaceutical company, which emerged as a spin-off from the University of the Balearic Islands, will increase the list of companies in the health sector present in BME Growth, previously known as the Alternative Stock Market (MAB).
To make this possible, the company has decided to accept new investors with the aim of raising $5.93 million (€5 million), as Pablo Escribá, CEO and founder of Laminar Pharma, and Mario Grande, corporate director of the company, explained. The company is a pioneer in the therapeutic approach through the synthetic design of lipid molecules and compounds derived from oleic acid.
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Laminar Pharma, in search of attractive investors to make the jump to the trading floor at the end of 2020
In order to make the leap to BME Growth, taking into account that it already has a molecule in Phase III, it will do so with a direct listing option, carrying out a pre-IPO capital increase with which it will provide entry to European funds and family offices. “The registered advisor, our sponsor, will be a Fellow Funders,” said Grande. The Balearic company has raised $17.8 million (€15 million) of investment to date, both private and from the authorities, and is currently responsible for 8% of the new products developed by the pharmaceutical and biopharmaceutical industry in Spain.
The Spanish biopharmaceutical company is committed to translational health research for the development of oncological drugs and other first-in-class products, using patented technology such as Membrane Lipid Therapy (MLT). “Our next step is to make these first-in-class products the standard of care,” added the corporate director and also responsible for investor relations at Laminar Pharma.
The company has been investigating the lipid alterations that occur in the cell membrane since 2006, studying their relationship with various pathological processes and developing pioneering and innovative therapeutic molecules to improve the quality of life of people affected by serious diseases. Laminar Pharma controls all processes, from the laboratory to clinical practice. The company licenses and supplies its patents to large pharmaceutical companies worldwide, under a B2B exploitation model. The molecules under development are grouped into three therapeutic areas: oncology (brain tumour and pancreatic cancer), neurodegenerative diseases and infectious diseases (e.g. COVID-19).
The company closed a $2.37 million (€2 million) financing round through Capital Cell last year
“By changing the membrane lipids you can change the anomalies,” said Escribá. The founder of Laminar Pharma compares the future capital injection to “a snowball” for the company, which has seen it become increasingly large and important for patients with diseases with high prevalence in recent years.
In the second half of 2019, Laminar Pharma closed a $2.37 million (€2 million) financing round through the crowdfunding Capital Cell platform. The operation is classified as one of the largest in the sector through this investment channel. However, this is not the only economic support the company has received in recent months.
Laminar Pharma also received a grant of $474,000 (€400,000) from the Balearic Government in 2019, which will be used to carry out clinical studies in various hospitals in Catalonia. To this aid must be added $7.3 million (€6.15 million) from the European Union, through the H2020 program, to carry out clinical studies in various European countries, in addition to the $3.56 million (€3 million) that the company has received from the central and Balearic governments in the last three years.
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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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